HighPoint Advisor Group LLC Takes Position in Globant S.A. (NYSE:GLOB)

HighPoint Advisor Group LLC purchased a new stake in shares of Globant S.A. (NYSE:GLOB) in the fourth quarter, according to its most recent filing with the SEC. The firm purchased 1,889 shares of the information technology services provider’s stock, valued at approximately $450,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of GLOB. Accent Capital Management LLC purchased a new position in shares of Globant during the 4th quarter worth approximately $29,000. Virtu Financial LLC increased its stake in shares of Globant by 119.0% during the 4th quarter. Virtu Financial LLC now owns 2,803 shares of the information technology services provider’s stock worth $667,000 after purchasing an additional 1,523 shares in the last quarter. Gillson Capital LP purchased a new position in shares of Globant during the 4th quarter worth approximately $18,281,000. Granahan Investment Management LLC increased its stake in shares of Globant by 10.9% during the 4th quarter. Granahan Investment Management LLC now owns 220,039 shares of the information technology services provider’s stock worth $52,365,000 after purchasing an additional 21,645 shares in the last quarter. Finally, Icon Wealth Advisors LLC purchased a new position in shares of Globant during the 4th quarter worth approximately $1,018,000. 91.60% of the stock is currently owned by institutional investors and hedge funds.

Globant Stock Down 2.4 %

Shares of NYSE GLOB opened at $154.21 on Thursday. Globant S.A. has a 52-week low of $151.68 and a 52-week high of $251.50. The firm has a fifty day moving average of $172.30 and a 200-day moving average of $206.09. The stock has a market capitalization of $6.64 billion, a PE ratio of 40.48, a P/E/G ratio of 1.62 and a beta of 1.40.

Globant (NYSE:GLOB) last announced its quarterly earnings data on Thursday, May 16th. The information technology services provider reported $1.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.18 by $0.01. The company had revenue of $571.08 million during the quarter, compared to analysts’ expectations of $570.72 million. Globant had a net margin of 7.62% and a return on equity of 11.60%. Equities research analysts expect that Globant S.A. will post 5.02 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the stock. Scotiabank dropped their price objective on shares of Globant from $200.00 to $190.00 and set a “sector perform” rating for the company in a research note on Friday, May 17th. Guggenheim assumed coverage on shares of Globant in a research note on Tuesday, March 19th. They set a “buy” rating and a $250.00 price objective for the company. TD Cowen dropped their price objective on shares of Globant from $235.00 to $220.00 and set a “buy” rating for the company in a research note on Friday, May 17th. StockNews.com raised shares of Globant from a “sell” rating to a “hold” rating in a research note on Tuesday, May 21st. Finally, Wedbush lowered their target price on shares of Globant from $250.00 to $200.00 and set an “outperform” rating for the company in a research note on Friday, May 17th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $217.94.

Globant Profile

Globant SA, together with its subsidiaries, provides technology services worldwide. It provides digital solutions comprising blockchain, cloud technologies, cybersecurity, data and artificial intelligence, digital experience and performance, code, Internet of Things, metaverse, and engineering and testing; and enterprise technology solutions and services, such as Agile organization, Cultural Hacking, process optimization services, as well as AWS, Google Cloud, Microsoft, Oracle, SalesForce, SAP, and ServiceNow technology solutions.